TravelGuru Acquires Desiya For $25 Million
$25 Million (around Rs. 100 crores) is the amount that Online Travel Agency (OTA) TravelGuru is paying for B2B hotel portal Desiya.com, reports ET. The acquisition had been reported a couple of months ago, but appears now that the deal has been done. The report doesn’t specify the cash and stock components of the deal.
Travelguru has a projected turnover of $42 million (around Rs. 168 crores) this fiscal, but that must be in terms of sale of tickets…the OTA hasn’t yet broken even (targeted next year, with a projected turnover of $80 million), and some of this acquisition must be from funds they’ve raised from Battery Ventures and Sequoia Capital India. Desiya apparently has 1000 travel agents and 225 travel portals as clients, with 1500 hotels as inventory. I wonder if the TravelGuru acquisition will impact it’s role as an independent hotel aggregator. More numbers at ET
Related StoriesPosted In: E-Commerce, Travel, Money, M&A & Venture Capital, Mergers & Acquisitions
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Comments (3)
Jan 14, 2008 2:43 AM
Challenging role in a startup:
—————————————————
We are running www(dot)samfra(dot)com - a local search engine.
We are going to launch a travel portal with great innovations.
We already have some highly experienced people in the team.
But, we need experienced people from travel, web marketing and technical
domains.
If interested or you know someone who can be suitable, send me a mail at
jeet232(at)gmail(dot)com
Even if you are not in above categories, still we can discuss things.
Thanks
Jeet Singh
9342141022
Jun 23, 2008 12:48 PM
TravelGuru is getting Global Recognition from all round the world. it has god really big customers and count could be more then millions.
That’s really good for India.
Jan 19, 2009 9:20 AM
With the recession coming in a lot of travel companies will go bust. It will be interesting to see the strategies of the companies who can stay afloat and more so make profits during this time.